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TAMEER eyes EGP 2bn in sales of Azad New Cairo

TAMEER eyes EGP 2bn in sales of Azad New Cairo
The new development will feature 350 units

By: Abdullah Bedeir

Cairo – Mubasher: Development and Engineering Consultants Co (TAMEER) aims to generate EGP 2 billion in sales of its Azad project in New Cairo, the company’s managing director Antoine El-Khoury said.

Covering an area of 19 feddans, the new development will feature 47 buildings comprising a total of 350 units, El-Khoury said in a press conference on Monday.

The Cairo-based firm has sold 470 units, representing 90% of Azad’s total units, he pointed out.

Delivery is scheduled to begin within two weeks and end during 2020, he noted.

It is noteworthy to mention that during the January-September period of 2019, the company’s net profits fell to EGP 14.3 million, compared to EGP 69.3 million in the year-ago period, including minority shareholders’ rights.

Sales declined to EGP 115.1 million in the first nine months of 2019, compared to EGP 167.9 million in the corresponding period a year earlier.